FM: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
FM
Largest movements
- Cash +€8,965
up €8,965 (+10,346%), from €87 to €9,052
mainly Trade debts (+€5,522) and Net result for the year (+€4,595)
- Receivables within one year -€4,114
down €4,114 (-62.6%), from €6,572 to €2,457
of which Other amounts receivable: -€4,752
- Tangible fixed assets -€3,278
down €3,278 (-36.2%), from €9,061 to €5,784
of which Furniture and vehicles: -€1,723
- Deferred charges and accrued income +€418
new in 2025: €418
- Other debts -€9,406
down €9,406 (-18.0%), from €52,139 to €42,733
- Trade debts +€5,522
up €5,522 (+16.2%), from €34,140 to €39,663
- Profit (loss) carried forward +€4,595
up €4,595 (+4.3%), from -€106,981 to -€102,386
- Contributions +€3,700
up €3,700 (+24.8%), from €14,900 to €18,600
- Tax, wage and social debts -€2,914
down €2,914 (-18.8%), from €15,473 to €12,559
of which Taxes: -€9,120
- Gross operating margin +€32,327
up €32,327 (+59.1%), from €54,683 to €87,010
- Staff costs +€10,590
up €10,590 (+16.8%), from €62,926 to €73,515
- Financial charges +€1,694
up €1,694 (+160%), from €1,060 to €2,754
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,220 | €22,211 | +€1,991 | +9.8% |
| Fixed assets | 21/28 | €12,061 | €8,784 | -€3,278 | -27.2% |
| Tangible fixed assets | 22/27 | €9,061 | €5,784 | -€3,278 | -36.2% |
| Plant, machinery and equipment | 23 | €2,036 | €677 | -€1,359 | -66.7% |
| Furniture and vehicles | 24 | €6,738 | €5,014 | -€1,723 | -25.6% |
| Other tangible fixed assets | 26 | €288 | €92 | -€196 | -68.0% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €8,158 | €13,427 | +€5,269 | +64.6% |
| Stocks and contracts in progress | 3 | €1,500 | €1,500 | = | 0.0% |
| Stocks | 30/36 | €1,500 | €1,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €6,572 | €2,457 | -€4,114 | -62.6% |
| Trade receivables | 40 | €1,252 | €1,889 | +€638 | +51.0% |
| Other amounts receivable | 41 | €5,320 | €568 | -€4,752 | -89.3% |
| Cash at bank and in hand | 54/58 | €87 | €9,052 | +€8,965 | +10,346% |
| Deferred charges and accrued income | 490/1 | - | €418 | +€418 | |
| Total equity and liabilities | 10/49 | €20,220 | €22,211 | +€1,991 | +9.8% |
| Equity | 10/15 | -€81,532 | -€73,237 | +€8,295 | +10.2% |
| Contributions | 10/11 | €14,900 | €18,600 | +€3,700 | +24.8% |
| Reserves | 13 | €10,549 | €10,549 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €8,689 | €8,689 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,981 | -€102,386 | +€4,595 | +4.3% |
| Amounts payable | 17/49 | €101,752 | €95,448 | -€6,304 | -6.2% |
| Amounts payable within one year | 42/48 | €101,752 | €95,448 | -€6,304 | -6.2% |
| Financial debts | 43 | - | €494 | +€494 | |
| Credit institutions | 430/8 | - | €494 | +€494 | |
| Trade debts | 44 | €34,140 | €39,663 | +€5,522 | +16.2% |
| Suppliers | 440/4 | €34,140 | €39,663 | +€5,522 | +16.2% |
| Taxes, remuneration and social security | 45 | €15,473 | €12,559 | -€2,914 | -18.8% |
| Taxes | 450/3 | €9,417 | €297 | -€9,120 | -96.8% |
| Remuneration and social security | 454/9 | €6,056 | €12,262 | +€6,206 | +102% |
| Other amounts payable | 47/48 | €52,139 | €42,733 | -€9,406 | -18.0% |
| Remuneration, social security and pensions | 62 | €62,926 | €73,515 | +€10,590 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,729 | €3,278 | -€451 | -12.1% |
| Other operating charges | 640/8 | €2,860 | €2,756 | -€104 | -3.6% |
| Gross operating margin | 9900 | €54,683 | €87,010 | +€32,327 | +59.1% |
| Operating profit (loss) | 9901 | -€14,831 | €7,461 | +€22,293 | |
| Financial income | 75/76B | €0 | €29 | +€29 | +26,173% |
| Recurring financial income | 75 | €0 | €29 | +€29 | +26,173% |
| Financial charges | 65/66B | €1,060 | €2,754 | +€1,694 | +160% |
| Recurring financial charges | 65 | €1,060 | €2,754 | +€1,694 | +160% |
| Profit (loss) for the period before taxes | 9903 | -€15,892 | €4,736 | +€20,628 | |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€16,031 | €4,595 | +€20,627 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,031 | €4,595 | +€20,627 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.